Avanza Fonder AB Buys Shares of 11,669 Carvana Co. (NYSE:CVNA)

Avanza Fonder AB acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,669 shares of the company's stock, valued at approximately $2,373,000.

Several other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP grew its holdings in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company's stock valued at $361,000 after purchasing an additional 76 shares during the period. Empirical Asset Management LLC raised its position in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company's stock worth $890,000 after acquiring an additional 100 shares during the period. CIBC Asset Management Inc lifted its holdings in Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company's stock valued at $586,000 after purchasing an additional 115 shares in the last quarter. MML Investors Services LLC grew its position in shares of Carvana by 3.0% in the third quarter. MML Investors Services LLC now owns 4,172 shares of the company's stock valued at $726,000 after purchasing an additional 122 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in shares of Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company's stock worth $402,000 after purchasing an additional 130 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup upgraded Carvana from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. Royal Bank of Canada raised Carvana from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $270.00 to $280.00 in a research note on Tuesday, January 7th. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $330.00 target price on shares of Carvana in a report on Tuesday, January 7th. Finally, Jefferies Financial Group raised their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $241.94.

Carvana Stock Performance

Shares of CVNA traded down $1.33 during mid-day trading on Friday, reaching $230.59. 3,102,589 shares of the company's stock were exchanged, compared to its average volume of 3,796,350. The business's fifty day simple moving average is $231.78 and its 200-day simple moving average is $187.07. The stock has a market capitalization of $47.88 billion, a PE ratio of 23,082.38 and a beta of 3.38. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. During the same period in the previous year, the business posted $0.23 earnings per share. The company's revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts expect that Carvana Co. will post 0.88 earnings per share for the current year.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00. Following the completion of the sale, the insider now owns 37,658,131 shares in the company, valued at approximately $7,184,794,813.49. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 14,548 shares of the business's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the transaction, the insider now owns 119,494 shares in the company, valued at approximately $23,659,812. This trade represents a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 651,908 shares of company stock worth $142,079,285 in the last quarter. Company insiders own 17.18% of the company's stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.